ch 5 quiz

A public adjuster represents the interests of:
A) The insurer
B) The employer
C) The insured
D) The interest of the general public

Which of the following is the type of report that indicates the initial result of a claim investigation?
A) Field report
B) Interim report
C) Full report
D) None of the above

States have adopted statutes regarding claims adjusting. To avoid unfair treatment to a claimantm, the adjuster must not:
A) Pay the claim within a reasonable number of days after the final proof of loss has been received.
B) Follow the laws regarding the number of days in which to commence an investigation
C) Deny the claim until a fair and prompt investigation has commenced
D) Promptly invesigate the claim

Which of the following is not a settlement option?
A) Repairing property
B) Replace with new
C) Replacing with like kind and quality
D) Forcing the insured to sue by offering less than the claim is worth

The giving up of a known right is called:
A) Estoppel
B) Rebating
C) Waiver
D) Violation of policy conditions

An innocent party relies on certain statements made by the adjuster and is damaged as a result. The guilty party may be legally prohibited from asserting that the fact does not exist because of:
A) Estoppel
B) Duties of the adjuster
C) Waiver
C) Law of contract

Should an insured fail to report a claim in a timely fashion the adjuster will usually:
A) Deny the claim
B) Send the insured a reservation of rights letter
C) Seek the advice of the company's attorney
D) Cease investigating

A company adjuster primarily represents the interests of:
A) The insurer
B) The claimant
C) The public
D) The insured

An adjuster's license will usually be revoked for which of the following reasons:
A) Having been convicted of a felony
B) Denying claims that are not covered
C) Failing to report a change of address
D) Having been convicted of a misdemeanor

The insured has been involved in an automobile accident and has sustained bodily injuries and damage to the insured vehicle. The adjuster will usually:
A) Pay to repair the damage to the vehicle and require a release for all claims
B) Pay to repair the damage to the vehicle and obtain a partial release and settle the medical payments later and then seek a final release
C) Withhold any payment until all the bills have been reviewed for payment
D) Pay to repair the vehicle and pay the medical bills later

Mr. Jones has damaged his vehicle by striking a tree. He can:
A) Take the car to a repair garage recommended by the insurer
B) Take the car to a garage of their choice
C) Accept the payment based on the adjuster's estimate
D) All of the above

In case of a total loss to a vehicle, the adjuster will pay the insured/claimant which of the following:
A) The cost to replace the vehicle with like kind and quality if a current year model
B) Use the most recent publication of an "Official Used Car Guide"
C) If not listed in the "guide", obtain quotations from automobile dealers
D) All of the above, depending on circumstance

Which of the following is NOT a claim settlement option for liability claims?
A) Loss of use
B) Lost wages
C) Excessive amounts claimed
D) Disfigurement

Which of the following results in immediate payment when the claimant signs a release relinquishing his right to sue?
A) Full release settlement
B) Advanced payment
C) Scheduled payment release
D) Structured settlement

Which of the following relieves the financial burden on the claimant by making certain payments to the claimant even before the claim can be negotiated?
A) Advanced payment
B) Rehabilitation
C) Open-ended release
D) No Release or Walk-Away